Key regions: Japan, United States, Philippines, Russia, China
The Processed Fish & Seafood Market in the Americas is seeing minimal growth due to factors such as changing consumer preferences, regulations, and fluctuating fish stocks. Despite this, the market is expected to continue growing due to increasing demand for convenient and healthy food options.
Customer preferences: The increasing demand for convenient and healthy food options has led to a rise in popularity of ready-to-eat processed fish and seafood products in the Americas. Additionally, the growing focus on sustainability and ethical sourcing practices has also influenced consumer preferences, with a preference for certified sustainable and traceable seafood. This trend is further bolstered by the rising awareness and interest in alternative protein sources, such as plant-based seafood options, among health-conscious and environmentally conscious consumers.
Trends in the market: In the United States, the Processed Fish & Seafood Market is experiencing an increase in demand for sustainably sourced and ethically harvested seafood products. This trend is driven by consumer awareness and demand for environmentally friendly and socially responsible food options. In addition, there is a growing trend of using technology to track and trace seafood products from the source to the consumer, ensuring transparency and accountability in the supply chain. This trend is expected to continue, with industry stakeholders focusing on sustainable and ethical practices to meet consumer demand and maintain a competitive edge in the market.
Local special circumstances: In the Americas, the Processed Fish & Seafood Market is heavily influenced by the region's rich seafood culture and diverse geographical landscape. Countries like Peru and Chile, with their long coastlines and abundance of marine resources, are major contributors to the market. In addition, strict regulations on fishing practices and sustainability, particularly in the United States and Canada, have shaped the market by promoting responsible sourcing and production methods. This has led to a growing demand for eco-friendly and ethically sourced seafood products, driving innovation in the market.
Underlying macroeconomic factors: The Processed Fish & Seafood market in the Americas is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. For instance, countries with strong economic growth and stable fiscal policies are likely to experience higher demand for processed fish and seafood products due to increased consumer spending power. Additionally, the rising health consciousness and growing preference for healthy and convenient food options are also driving the market growth. Furthermore, the increasing focus on sustainable and environmentally friendly fishing practices is also shaping the market dynamics in the region.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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